Bank of New York Mellon Corp Sells 132,885 Shares of GE Aerospace (NYSE:GE)

Bank of New York Mellon Corp lessened its position in GE Aerospace (NYSE:GE - Free Report) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,633,536 shares of the company's stock after selling 132,885 shares during the period. Bank of New York Mellon Corp owned approximately 0.62% of GE Aerospace worth $1,327,702,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. New Age Alpha Advisors LLC increased its position in shares of GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after acquiring an additional 84 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of GE Aerospace during the fourth quarter worth $28,000. Putney Financial Group LLC acquired a new position in GE Aerospace during the fourth quarter worth $28,000. CBIZ Investment Advisory Services LLC acquired a new position in GE Aerospace during the fourth quarter worth $29,000. Finally, Copia Wealth Management boosted its holdings in GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

Insider Transactions at GE Aerospace

In related news, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president directly owned 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president directly owned 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on GE. Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the stock an "outperform" rating in a report on Tuesday, June 3rd. UBS Group increased their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Wells Fargo & Company increased their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, Citigroup reduced their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $223.75.

GE Aerospace Stock Performance

GE stock traded up $2.03 during trading hours on Friday, reaching $246.78. The stock had a trading volume of 3,089,499 shares, compared to its average volume of 5,513,512. The stock has a 50-day simple moving average of $234.38 and a 200 day simple moving average of $206.23. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77. The stock has a market capitalization of $263.16 billion, a PE ratio of 38.38, a price-to-earnings-growth ratio of 2.98 and a beta of 1.37. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $260.55.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. The company had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. Analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.58%. GE Aerospace's dividend payout ratio is presently 22.40%.

About GE Aerospace

GE Aerospace (also known as General Electric) is a company that specializes in providing aerospace products and services. It operates through two reportable segments: Commercial Engines and Services and Defense and Propulsion Technologies. It offers jet and turboprop engines, as well as integrated systems for commercial, military, business, and general aviation aircraft.